November 10th after date pay to the order of ourselves sixteen hundred eighty-four dollars and thirty-five cents ($1,684.35). The obligation of the acceptor hereof arises out of the purchase of goods from the drawer. The James S. Miller Co., Secretary. Warren Steel Casting Co., St. Louis, Mo. Accepted. Date: October 7, 1920 (date accepted). (Designate bank or) Location of bank: St. Louis, Mo. (Place of payment) (Signature.) Warren Steel Casting Co., By (Signature of acceptor). (Construed in Hummel v. Warren Steel Casting Co., 5 Fed. (2d) 451.) Form 3216. Receipt of Acceptances by Corporation. Reolo, Inc., 1232-9 Superior Avenue, Cleveland, Ohio. 19 Gentlemen: We herewith acknowledge receipt of the following acceptances signed by the St. Louis Wholesale Drug Company, St. Louis, Missouri: Dated 19, $3,000.00, matur ing. Dated, 19, $2,640.00, maturing Thanking you for the above, we remain, Yours very truly, Company, Assistant Treasurer. (Construed in Charles H. Fuller Co. v. St. Louis Wholesale Drug Co. (Mo. App.), 282 S. W. 535.) Form 3217. Note for Purchase of Stock Secured by the Stock and Collateral $20,000.00. Agreement. Geddes, South Dakota, -; 19-. For value received, I promise to pay to the order of at Geddes, South Dakota, $20,000.00, with interest thereon at the rate of five and one-half per cent. per annum, from the date until paid, interest payable semi-annually on the day of October and April each year. The principal is to be payable as follows: One thousand dollars ($1,000.00) on or before the day of October in each of the years 1914, 1915, 1916, 1917, and the balance of the principal on or before the day of October, 1917. As security for the payment of this note, the makers have assigned to the payee 130 shares of the capital stock of the Dakota Telephone & Electric Company, each share being of the par value of one hundred dollars ($100.00), and 1,016 shares of the capital stock of the Missouri River Telephone Company, each share being of the par value of twenty-five dollars ($25.00), which shares of stock the payee agrees to reassign to the makers of this note upon payment of the note. The makers of this note agree that the telephone lines and other property of the Missouri River Telephone Company and Dakota Telephone & Electric Company shall not be mortgaged or sold, except minor parts thereof, before the full payment of this note, and further agree that the telephone lines and other property of said companies shall at all times before the full payment of this note, be kept and maintained in at least as good condition as the same now is. It is further agreed that if the property of said companies, or either of them, shall be mortgaged or sold, except minor parts thereof, before the full payment of this note, or if the telephone lines and other property of said companies, or either of them, shall not be kept and maintained in as good condition as the same now is, this note shall at once become due and payable, at the option of the owner thereof. (Signed.) (Involved in suit of Ward v. Dakota Telephone & Electric Co. (S. Dak.), 206 N. W. 695.) $17,500.00. Form 3218. Note with Stock as Collateral. Dallas, Texas, 19-. On or before, 19, after date I promise to pay to the order of, for value received, negotiable and payable without defalcation or discount, at Kansas City, Missouri, with interest at the rate of six and one-half per cent. per annum from date until paid; I have deposited or pledged with as collateral security for the payment of this note, 150 shares of the capital stock of the Toole-Howell Furniture Company, a corporation of Dallas, Texas, the market value of which is now $100.00 per share. Payee's authority in case of default. Now, in the event of the nonpayment of this note at maturity, the holders hereof are hereby invested with full authority to use, transfer, hypothecate, sell, or convey the said property, or any part thereof, or to cause the same to be done, at public or private sale with or without notice or demand of any sort, at such place and on such terms as the said holders may deem best; and the holders of this note are authorized to purchase said collaterals when sold for their own protection; and the proceeds of such sale, transfer or hypothecation shall be applied to the payment of this note, together with all protests, damages, interests, costs and charges due upon the note, or incurred by reason of its nonpayment when due, or in the execution of this power. Also a commission of two and one-half per cent. on the gross amount of said collaterals sold. The surplus, if any, after payment of this note, together with all charges above stated, shall be paid to the drawer of this note, or at the election of the holders hereof, be paid on any other obligation of the drawer hereof, whether as principal debtor or otherwise, held by the holders hereof; and if the proceeds of the above sale shall not be sufficient to pay this note, the drawer hereof agrees to make good on demand any deficit; and it is understood and agreed, should there be any depreciation in the value of said security prior to the maturity of this note, such an amount of additional security shall be furnished as will be satisfactory to said, and should such additional security not be furnished within twenty-four hours after demand so to do, then and in that event said may proceed at once and sell as above specified the security herein named. In the event default is made in the payment of this note at maturity and it is placed in the hands of an attorney for collection, or suit is brought on the same, then an additional amount of ten per cent. on the principal and interest of this note shall be added to the same as collection fees. (Signed.) (Involved in Brinkman v. Rick (Tex. Civ. App.), 285 S. W. 885.) Form 3219. Note with Stock as Collateral-Another Form. $75,000.00. No. New York, N. Y., -, 19-. On, 19, fixed, for value received, the Western Maryland Railroad Company hereby promises to pay, to its own order, at the office of the Farmer's Loan and Trust Company at the city of New York, seventy-five thousand dollars with interest, payable on the first days of April, July, October and January, at the rate of six per cent. per annum until paid, having deposited herewith, as collateral security for the payment of this note, $100,000.00 par value Western Maryland Railroad Company's first mortgage four per cent. bonds, of $1,000.00 each, bearing all coupons unmatured at this date, numbered from to both inclusive, and does hereby give full authority to the holder hereof to sell the whole or any part thereof, at any broker's board, or at public or private sale, at the option of the holder hereof, on the nonperformance of this promise, or in case of the insolvency, bankruptcy or failure of the undersigned, and without notice of intention to sell, or of the time or place of sale and without demand or payment of this note; and in case of any sale or other disposition of any of the securities aforesaid, after deducting all expenses of collection and sale, to apply the residue of the proceeds to pay this note. And in case of deficiency the undersigned agree to pay to the holder hereof the amount thereof forthwith after such sale with legal interest. It is also agreed and understood that upon the sale of any of said collaterals the holder hereof may become the purchaser of all or any part thereof, and hold the same thereafter in his, or its own right absolutely free from any claim of the undersigned. Western Maryland Railroad Co., On -, 19-, for value received, we promise to pay to the order of The Fourth Street National Bank, Philadelphia, $20,000.00, having deposited as collateral security for payment of this or any other liability or liabilities to said holder hereof, due or to become due, or that may be hereafter contracted, the following property, viz.: $19,000.00 The Diamond State Steel Co. 1st mortgage four per cent. bonds $6,720.00 L. & N. E. R. R. Co. five per cent. constd. mortgage bonds with the right on the part of the holder hereof, to repledge the securities above mentioned, or to substitute or exchange for the same other certificates of like tenor and amount, and also from time to time to demand additional collateral security, and upon failure to comply with any such demand, this obligation shall forthwith become due, with full power and authority, to the holder hereof, or assigns, in case of such default, or of the nonpayment of any of the liabilities above mentioned at maturity, to sell, assign and deliver the whole, or any part of such securities, or any substitutes therefor or additions thereto, at any broker's board, or at public or private sale, at their option, at any time or times thereafter, without advertisement or notice to the undersigned, and with the right on the part of the holder |